This is the Port of Seattle's Comprehensive Annual Financial Report for the fiscal year ended December 31, 2011, prepared by the Port's Accounting and Financial Reporting Department. The report covers the financial activities of the Port of Seattle, a Washington State public agency that oversees Seattle-Tacoma International Airport, seaport operations, and marinas. It marks the Port's centennial year, commemorating 100 years of operations from 1911 to 2011.

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This is the Comprehensive Annual Financial Report (CAFR) for the Port of Seattle for the fiscal year ended December 31, 2011, prepared by the Accounting and Financial Reporting Department. The report marks the Port’s centennial year (1911–2011) and covers financial activities across the Port’s aviation, maritime, and other divisions. It was produced in Washington State and printed on recycled paper.

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As the source for federal transportation grants, the Puget Sound Regional Council was charged with developing a system to meet the growing need for commercial aviation. When the search for a second airport failed, they authorized the Port of Seattle to build the Third Runway, with a mandate to develop a noise abatement and mitigation program. In their effort to stop the Third Runway, the ACC argued over every detail of the Port's efforts--including property buyouts and sound insulation. The dispute was meant to be settled by a three member Expert Arbitration Panel. This is their final report. It finds 2-1, that the Port's program was insufficient in several respects. Despite that, funding for the Third Runway was approved by the PSRC, and the 'Port Package' program, proceeded largely unchanged. Expert Arbitration Panel's final decision finding that the Port of Seattle had not shown sufficient reduction in real on-the-ground noise impacts to satisfy noise reduction conditions required for approval of a third runway at Sea-Tac International Airport. The majority decision concluded the Port's noise abatement programs were insufficient despite being impressive in scope.

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